My stocks portfolio - Sep 2014

Excluding dividends, my portfolio of local stocks was down by 1.81%. My portfolio had underperformed the overall market in the month of September 2014. However, the performance was adjusted lower to a negative of 1.18% after taking dividends into account. Ever since I started tracking its performance from the start of 2010, my holding period returns had translated to 9.67% in annualized return.

It was another month of further consolidations for my local portfolio. I boosted my cash level by selling off a couple of stocks. Currently, my local portfolio is made up of majority in reits and some growth stocks in sectors of small to middle capitalizations.

A lot of investors or traders are wary of the negative impact of rising interest rates on highly leveraged stocks like reits. Most of them have short term memory or have never looked at history before. The period of 2003 to 2007 was a period of rising interest rates but still there are a number of reits which thrived during that time. US economy is still fragile so it is likely that the rise in interest rate to be a gradual one. I expect a short term pullback in prices of reits but I don’t think the pullback is in the magnitude of 2013 fall. Nevertheless, I intend to increase my stake in reits further if the pullback is more than expected.

In the US market, I have opened a small position in LVS. This gaming stock is poised for a rebound after going down more than 20% from its peak price. Overall, LVS is still a cash generating company and valuations have become more appealing.

Here is a summary of transactions for my local stocks that I made in the month of September 2014.

Sold Roxy Pacific, at 96.79% gain (including dividends)

Sold Kingsmen Creatives, at 26.62% gain (including dividends)

Sold SATS, at 24.08% gain (including dividends)

Sold STE, at 13.2% gain (including dividends)

Sold MGCCT, 2.53% gain (including dividends)

Sold MTQ, at 2.51% gain (including dividends)

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	FY
2010	-1.75%	1.36%	2.98%	4.36%	-7.12%	4.40%	4.49%	-1.38%	6.76%	3.09%	-1.61%	3.93%	20.38%
2011	-0.03%	-4.77%	2.07%	1.29%	-0.32%	-2.39	-0.33%	-8.34%	-6.53%	7.52%	-7.05%	0.52%	-17.85%
2012	9.41%	5.52%	2.62%	-0.22%	-3.13%	2.55%	2.84%	1.99%	4.27%	-0.34%	0.11%	2.75%	31.67%
2013	5.18%	2.33%	3.02%	1.95%	-2.98%	-3.45%	1.96%	-5.22%	4.12%	3.19%	-0.93%	0.73%	9.71%
2014	-2.44%	1.36%	2.58%	2.99%	3.52%	1.39%	0.25%	-0.09%	-1.18%
Annualised Return = 9.67%

Stock	Mode	Unrealised P/L (SGD)	Stock	Mode	Unrealised P/L (SGD)
ARA	CASH	38.80%	PARKWAY LIFE	CASH	21.94%
CAPITAMALL TRUST	CASH	5.45%	RAFFLES MEDICAL	CASH	49.23%
CDL HOSPITALITY	CASH	1.32%	RIVERSTONE	CASH	101.28%
CHINA MILK *	CASH	-100.00%	SILVERLAKE AXIS	CASH	143.60%
FIBRECHEM *	CASH	-100.00%	STARHILL GLOBAL	CASH	-5.44%
FAR EAST HOSPITALITY	CASH	-17.40%	STARHUB	CASH	58.77%
FIRST REIT	CASH	45.77%	VALUETRONICS	CASH	55.70%
FRASERS CENTREPOINT	CASH	13.25%	SIA ENGG	CPF	-2.91%
FRASERS COMMERCIAL	CASH	1.63%	CAPITAMALL TRUST	CPF	-0.77%
KEPPELCORP	CASH	198.55%	PARKWAY LIFE	CPF	3.48%
OSIM	CASH	16.07%